Ethic Inc. acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,445 shares of the bank’s stock, valued at approximately $142,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Asset Dedication LLC boosted its position in Huntington Bancshares by 292.4% during the 3rd quarter. Asset Dedication LLC now owns 4,026 shares of the bank’s stock valued at $38,000 after purchasing an additional 3,000 shares during the period. Paradigm Asset Management Co. LLC acquired a new position in shares of Huntington Bancshares during the second quarter valued at $47,000. Ellevest Inc. grew its position in shares of Huntington Bancshares by 61.3% during the third quarter. Ellevest Inc. now owns 5,341 shares of the bank’s stock worth $49,000 after acquiring an additional 2,030 shares during the last quarter. CSat Investment Advisory L.P. increased its holdings in shares of Huntington Bancshares by 38.0% in the 2nd quarter. CSat Investment Advisory L.P. now owns 6,474 shares of the bank’s stock worth $59,000 after acquiring an additional 1,784 shares during the period. Finally, Norris Perne & French LLP MI bought a new stake in Huntington Bancshares in the 2nd quarter valued at about $91,000. Hedge funds and other institutional investors own 71.45% of the company’s stock.
In related news, EVP Mark E. Thompson sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $10.16, for a total value of $508,000.00. Following the completion of the sale, the executive vice president now owns 608,283 shares in the company, valued at approximately $6,180,155.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.
HBAN opened at $10.44 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 0.92. The firm has a market cap of $10.62 billion, a PE ratio of 13.38, a P/E/G ratio of 2.94 and a beta of 1.47. The business has a fifty day simple moving average of $9.62 and a 200-day simple moving average of $9.24. Huntington Bancshares Incorporated has a fifty-two week low of $6.82 and a fifty-two week high of $15.63.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 22nd. The bank reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.22 billion. Huntington Bancshares had a return on equity of 8.35% and a net margin of 16.27%. Huntington Bancshares’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 earnings per share. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 0.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 18th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Thursday, December 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.24%.
Several equities research analysts have commented on the stock. Wedbush upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and raised their price target for the company from $10.50 to $12.50 in a research note on Monday, October 26th. BMO Capital Markets lifted their target price on Huntington Bancshares from $9.00 to $10.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. BidaskClub raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, October 7th. Raymond James restated a “buy” rating and set a $12.00 price objective on shares of Huntington Bancshares in a research note on Monday, September 14th. Finally, Bank of America decreased their target price on shares of Huntington Bancshares from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $10.31.
Huntington Bancshares Profile
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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